Atlético de Madrid buy 50% stake in Ecuadorian club Atlético FC

It was an open secret, and now it is official. In a statement, Atlético de Madrid have confirmed the purchase of a 50% stake in Atlético Fútbol Club of Guayaquil, who recently won promotion to Ecuador's top flight, the Serie A.

Atlético de Madrid have completed the acquisition of 50% of Atlético Fútbol Club. The Atleti thus become shareholders in the Ecuadorian club, alongside the Junta de Beneficencia de Guayaquil, the city's charitable welfare board.

The board of directors will have six members: three representatives of the Junta de Beneficencia and three from Atlético de Madrid. The board will hold its first meeting next week, when it will elect its chairman, nominated by Atlético de Madrid, and appoint a general manager for Atlético FC.

In its official statement, Atlético de Madrid explained: "We are thus consolidating the social and educational project launched in 2023 with the Junta de Beneficencia de Guayaquil, the largest non-profit organisation in the South American country, whose aim was to create an Academy and implement our sporting and educational model in the region, and which now culminates with Atlético FC joining the red-and-white family."

Last October, Atlético Fútbol Club secured an impressive promotion to Ecuador's Serie A under coach Carlos Santamarina.